The Center for micro-financing RB makes micro-loans more available
The Center for micro-financing RB changed the main conditions for micro-financing of small business within the frames of the Republican program for support and development of small and medium business in 2010.
Thus, the interest rate is lowered from 13 to 11% of interest per annum; the payment delay on the main debt is increased from two to six months. Besides, now the main debt can be paid back by equal shares either every quarter or every six months.
The micro-loans are given in the sum of up to one million rubles the term of one year without introduction of a business-plan for any business purposes. 165 small business subjects from 29 municipal districts and six city districts RB have already used this form of state support for the overall sum of 120 million rubles.
More detailed information concerning micro-financing can be found on the site www.centerrb.ru.